The Value of Transparency through Social Media

Openness with clients and customers on the web is must for brands, according to Jamie Pappas of Information Week. Last week Pappas posted an article that discussed the average consumer’s need for honesty from companies and their brands.

“As consumers investing in these products and services, we demand that businesses be honest with us about their features and functions, as well as potential pitfalls,” wrote Pappas.

The quintessential example of honest transparency is the recent marketing campaign of Domino’s Pizza. By listening to customer feedback – both positive and negative – Domino’s openly addressed their weaknesses and changed their products.  The results? Pappas article stated that Domino’s shares jumped from roughly $9 to $23 after the new campaign.

Yes, it can be difficult to admit the faults of your business and/or products, but bankruptcy is even more difficult. Domino’s did what they had to do in order to change the opinions of their target market.

Are you utilizing social media as a tool for two-way communication between you and your clients?

Published on: July 24, 2011